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Understanding your opportunity

With the introduction and increased popularity of high deductible plans, there is more pressure than ever on the patient to pay their share. The average deductible for a high deductible plan is more than $5700, making out of pocket costs significant! How are your patients going to pay for deductibles, copays and items that are not covered by insurance? And how will those increasing payments impact your business?

Here’s what you need to consider:

By 2020, the industry expects nearly 37% of your A/R will be from payments from your patients.

On average, many suppliers collect less than 50% of their private pay balances.

When using COLLECTPlus, our clients normally see at least a 20% increase in cash recoveries.

The chart below illustrates how Patient Pay Balances nearly doubled from 2010 to 2015 and how they will nearly double again from 2015 to 2020.

The Allegiance Group (AG) has assisted in streamlining and improving our patient collections process, from both a customer experience and cash recovery perspective. Our account management and support team from AG have been very responsive and flexible in understanding our business drivers and making adjustments to our collections process specific to our business needs. We have been very pleased with our partnership with the Allegiance Group.”